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November 15, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Owings Mills, Business Loans > Regal Bank & Trust Owings Mills Business Loans > Construction And Mining Machinery Loan | ||||
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Banks for White Marsh Small Businesses
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Regal Bank & Trust Gives SBA Loan to Construction And Mining Machinery CompanyMarylandBank loans are available to Maryland firms through the SBA. In this case, a Maryland bank provides the loan. This business, based in White Marsh, Maryland, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Regal Bank & Trust. We've got the inside scoop on this Maryland small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY SBA Loan Lender REGAL BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5082 - Construction and Mining Machinery NAICS Code 421810 - Construction and Mining Machinery and Equipment Wholesale Loan Approval Date 4/14/2004 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $500,000. How would you spend $500,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Where to Get an SBA Loan in Owings Mills, Maryland Getting an SBA Loan in Maryland
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